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Rheumatology Genomic Test Developer Exagen Diagnostics Raises $5.3M

NEW YORK (GenomeWeb News) – Exagen Diagnostics, which develops genomic tests aimed at rheumatology, announced on Monday the completion of a financing round that raised $5.3 million.

The funding will be used to expand the market for the Albuquerque, NM-based firm's brands and further development of near-term pipeline products, it said. Exagen plans to expand its three marketed rheumatology brands — Avise SLE, Avise PG, and Avise MCV — and other products that will help physicians diagnose and treat rheumatologic disorders, company President and CEO Ron Rocca said.

"Many connective tissue diseases are considered chameleon-like or have a wide range of sometimes overlapping symptoms, which adds to the difficulty of correctly diagnosing these diseases," he said in a statement. "It's our goal to arm physicians with the best tools available to help these patients."

Exagen also operates a CLIA-certified laboratory in Vista, Calif.

Tullis Health Investors led the financing round. Other investors include Sun Mountain Capital, Cottonwood Technology Fund, Mesa Verde Venture Partners, and Epic Ventures.